Groww Review

Groww is a Bangalore-based broker that offers low-cost equity, initial public offering (IPO), and direct mutual fund investing. SEBI-registered stockbroker and NSE/BSE member Nextbillion Technology Private Limited trades as Groww. As a mutual fund investing platform, Groww was launched in 2016. Toward the end of the 2020s, Groww added equity trading to its product line.

Customers may also invest in Digital gold, US stocks, and a Fixed Deposit through the firm. Per completed trade, Groww charges Rs 20 or 0.05 percent of the transaction fee. There is a maximum brokerage fee of Rs 20 per order, regardless of the quantity. There are no fees for investing or redeeming mutual funds with Groww.

Investors at Groww may trade on their own trading platform, Groww (web and mobile trading app), which provides a smooth experience. With 128-bit encryption, it’s completely safe to use. To date, Groww has amassed a solid client base of 90+ lakh members, making it one of India’s fastest growing platforms. It’s also a top-rated app (4.5+) on the Google Play Store and the Apple App Store alike.

Groww is an online trading platform. As opposed to full-service brokers, it does not provide any advice or recommendations. Learn the fundamentals of stock market trading and investing with Groww’s free eBooks, educational blogs, and other tools for investors and novices.

Groww Positives and Negatives

Advantages

  • Brokerage fee reductions
  • Trading systems that work with a wide range of devices.
  • Account opening is simple.
  • Budgetary restraints
  • A large amount of exposure
  • A well-oiled squad
  • Query resolution in a timely manner.
  • Account-opening fees were waived.
  • Added flash and alarms, plus a slew of exclusive deals

Disadvantages

  • Several financial products are not yet offered by the company.
  • Neither research nor advising services are offered.

Why Open a Groww Trading Account?

Here are some good reasons to sign up for a Groww Trading Account.

  • Excellent use of modern technology, which allows for easy communication by phone or email.
  • Brokerage programs with steep discounts, i.e. a single charge for all trades, are available.
  • Highly responsive and efficient workers.
  • With the aid of technology, trading platforms are well-integrated and quick.
  • Even mutual funds are included in the list of investment choices.
  • Account-related fees have decreased.

Groww Review – Groww App Features

The Groww investing app has a slew of options and features to make it easy for users to get started. The following are some of the app’s most useful features as reported by its users:

  • Using the phone’s fingerprint scanner to open the app is just as safe and easy as using a contemporary payment app’s fingerprint scanner. When signing in, consumers don’t have to remember a username and password every time they want to access their accounts. It also assures that even if the gadget is lost or stolen, no unauthorized access occurs.
  • Stocks or mutual funds?: Once logged in, users may choose between mutual funds or stocks with a single click. In this way, individuals are able to pick and manage each of their several accounts independently.
  • Sorted by “high returns,” “top firms,” and other criteria, the next rail presents mutual funds and stocks. Those who are new to investing or don’t have much experience investing can utilize this feature to get right into a certain collection and get a head start.
  • Optional methods of payment include UPI payments and net banking, both of which Groww accepts, as well as the ability to deposit funds directly into the company’s wallet.
  • Users can keep tabs on their investments thanks to the dashboard feature of the app.

How to Open Demat Account with Groww?

Step 1: Open the Groww app and sign in. Select “Stocks” from the drop-down menu, then click “finish setup.”

Step 2: select ‘Open Stocks Account’ from the dropdown menu. On Groww, there are no account-opening fees. The ‘See all charges’ link can be used to view additional fees. Open a stock account by clicking on the ‘Open Stocks Account’ button after reviewing the fees.

Step 3: To complete the KYC procedure, you must provide information about your job, income, and the names of your mother and father. Once you’ve reviewed the information, click on the “Next” button to proceed.

Step 4: Click on the ‘Next’ button once you’ve entered your trading experience.

Step 5: Next, you’ll need to enter your signature. To open a Demat account, you must sign your name. Make your signature with dark ink on a white sheet of paper. Ensure that it can be seen easily. Make sure you keep track of the signature you used since you may be requested to submit it again in the future. Take an image of your signature and then upload it by clicking on the camera icon. It is possible to snap the shot again if necessary. If you’re happy with the image, click the “Looks Good” button to continue.

Step 6: E-signatures using Aadhaar are required in this final phase. You will receive an OTP on the registered cellphone number connected to your Aadhaar after submitting your Aadhaar number to the e-sign service. Select “E-SIGN AOF” from the drop-down menu.
In order to get the OTP, your Aadhaar number must be connected to your mobile phone number. Click on “My mobile is not linked to my Aadhaar card” if your Aadhaar is not linked to your mobile.

After submitting your contact information, you’ll receive an email with an application for a new Demat account (AOF). Sign and send the form by mail to the address shown on your screen once you’ve printed it off and carefully read all of the information. You will be contacted and your account will be enabled after the form has been verified.

Step 7: Enter the OTP/security code received to your cell phone if it is connected to your Aadhaar and click ‘Submit.’

Step 8: Thoroughly review and sign the Demat account opening paperwork.

Step 9: NSDL’s electronic signature service will link you to this page. Click on the ‘Send OTP’ button to send an OTP to your Aadhaar number or virtual ID. To finish the e-signature process, type in the OTP.

Your first screen will read, “Signed successfully,” and the next will state, “You may begin investing at this time. ” To begin, click on the ‘Let’s begin’ button.

The home screen will be shown. Verification of your account opening form may take up to several hours. You may notice a notification on your home screen saying “your papers are being processed” until we finish the verification process.

If all goes according to plan, you’ll be able to invest within 24 hours after the verification.

As part of the onboarding process, Groww will send you the Client Master Report (CMR), which includes your BO ID or Demat account number, to your registered email address.

Groww Trading Account Opening Fees

Due to the fact that they started out as discount brokers, the brokerage fees that various asset classes charge are quite low. In addition, it offers free brokerage services for stock delivery investments.
Furthermore, the trading account is completely free of charge, as there is no starting charge or account maintenance price to be concerned about.

Groww Demat Account Opening Fees

With Groww, you may establish a demat account for free. With this house’s platform being built with cutting-edge technology, you can sit back and relax as you invest your money.
With today’s technology, you can do just about everything from the convenience of your own home.
List of Mutual Fund Companies on Groww Mutual Fund App.

On Groww Mutual Fund’s Google Play Store website, Groww states that the following mutual fund firms are available on the app.

Groww Mutual Fund app features mutual fund firms (AMCs):

  • SBI Mutual Fund
  • Reliance Mutual Fund
  • ICICI Prudential Mutual Fund
  • HDFC Mutual Fund
  • Aditya Birla Sun Life Mutual Fund
  • DSP Blackrock Mutual Fund
  • Invesco Mutual Fund
  • Franklin Templeton Mutual Fund
  • UTI Mutual Fund
  • Quantum Mutual Fund
  • PRINCIPAL Mutual Fund
  • Sundaram Mutual Fund
  • Union Mutual Fund
  • Canara Robeco Mutual Fund
  • JM Financial Mutual Fund
  • Edelweiss Mutual Fund
  • Tata Mutual Fund
  • Indiabulls Mutual Fund
  • Kotak Mutual Fund
  • Mirae Asset Mutual Fund
  • BNP Paribas Mutual Fund
  • Baroda Pioneer Mutual Fund
  • IDBI Mutual Fund
  • BOI AXA Mutual Fund
  • Axis Mutual Fund
  • Taurus Mutual Fund
  • DHFL Pramerica Mutual Fund
  • Motilal Oswal Mutual Fund
  • Mahindra Mutual Fund
  • L&T Mutual Fund
  • LIC Mutual Fund
  • PPFAS Mutual Fund
  • IIFL Mutual Fund
  • Peerless Mutual Fund
  • Shriram Mutual Fund
  • IDFC Mutual Fund

Final thoughts

Groww is gradually becoming one of the top investment/trading platforms out there.. Concerns have been raised concerning the application’s quality. When it comes to derivatives trading, Groww doesn’t currently support it.

Customers have also expressed dissatisfaction with the app’s customer support, based on reviews in the Google Play Store. Despite this, the app has over 10 million downloads and a stellar rating of 4.4 stars in the Google Play Store. Below, please share your thoughts about Groww. Get a good time investing!

Frequently Asked Questions for Groww

1.Ques: Is trading Groww safe?

Ans: The greatest technical support is provided by Groww, a new addition to the discount broker family.
It is safe for all investors and traders to use this platform since they have implemented all of the safety precautions of digital investing.

2.Ques: What is the brokerage of Groww?

Ans: With their flat-rate plan, they’re among the most affordable brokerages out there. All other sectors except commodity and delivery have a brokerage cost of Rs.20 for each order.
No brokerage fees apply to Delivery, and commodity trading is not offered at this firm.

3.Ques: How to open Groww demat online?

Ans: Growing an account with Groww is really simple. The green button at the bottom of the page is all you need to do. The next step is to complete the KYC procedure, which is required in order to open a demat account.

4.Ques: Are IPO investments possible with Groww?

Ans: It is possible to invest in IPOs through this broker, which also provides IPO services for those who are interested. Fill out the IPO form and review the investment terms and conditions.

5.Ques: What Leverage does Groww provide?

Ans: As a result of the segmentation, the leverage level can be adjusted accordingly. For example, the intraday sector has the largest Leverage, which is 5x.

There is a 1x leverage for delivery and currency options, 1x for commodities, 1x futures, 1x options and 1x currency futures in the remainder of the section

6.Ques: Does Groww have a trading App?

Ans: The broker provides its customers with a dedicated trading app, which has a user-friendly interface and a wealth of high-end features. Trades can be made on the go thanks to the app’s compatibility with Android and iOS devices.

7.Ques: What is the best way to get in touch with Groww customer service?

Ans: There is no branch-based help for investors. There are a slew of other ways to get in touch with the customer service team at your business.
Customer service is available via chat and email at the company’s request.

8.Ques: Is Groww a source for scientific research?

Ans: Because they are discount brokers, this broker does not offer investors or traders with access to research.
Instead, they are exclusively available online and offer a restricted number of services, such as reports and financial advice.

9.Ques: Is Groww good for Beginners?

Ans: Groww is a great place for novice investors to become involved in the stock market. As a novice investor, you will benefit from the low cost of brokerage, which will allow you to invest more easily. In addition, they provide investing advice and various reports to help you make your own judgments.

10.Ques: Who Founded Groww?

Ans: To date, Groww is the brainchild of a group of ex-Flipkart workers who joined together in 2016 to create an online investing platform that is completely transparent.

Groww Review & Ratings

Customer Ratings
Experience 6.3/10
Trading Platform 9.4/10
Product & Services 9.2/10
Brokerage Charges 9.3/10
Research 7.5/10
Overall Rating 8.6/10
Star Rating ★★★★
Customer Reviews 1297

 


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